1、2025 Recap and 2026 UpdateInsurTechMarket UpdateInsurTech Sector Update Introduction Executive Summary 2Mike CapocciGlobal InsurTech LeadMichael.CapocciHL.comAlec EllisonGlobal Head of FinTechAlec.EllisonHL.comMacro Environment ConsiderationsHighHigh-growth tech innovation,growth tech innovation,ado

2、ption,and spend continue in the adoption,and spend continue in the insurance end market with an intense insurance end market with an intense focus on AIfocus on AI-led capabilitiesled capabilitiesM&A and funding deal volumes appear M&A and funding deal volumes appear to be stabilizing around preto b

3、e stabilizing around pre-COVIDCOVID-19 19 levels,showing broader sector resilience.levels,showing broader sector resilience.The IPO market is open,with several The IPO market is open,with several notable IPOs in 2025 with strong notable IPOs in 2025 with strong contribution from insurance contributi

4、on from insurance distribution.distribution.There is strong investor and There is strong investor and consolidator appetite for highconsolidator appetite for high-quality quality and strategically relevant assets.and strategically relevant assets.TechTech-enabled MGAs and claims enabled MGAs and cla

5、ims services are garnering significant services are garnering significant attention and value uplift attention and value uplift compared to traditional pared to traditional players.AI centricity has been a main catalyst AI centricity has been a main catalyst for transaction activity,with related for

6、 transaction activity,with related software and data/analytics solutions software and data/analytics solutions garnering significant investor and garnering significant investor and consolidator attention.consolidator attention.InsurTech Market Status UpdateThe evolution of climate and cyber The evol